Symantec says annual report may be delayed due to investigation

Arturo Norris

Shares of Symantec Corp. tanked more than 33 percent today to their lowest level in almost two decades following the revelation that it has launched a internal audit to investigate concerns brought by a former employee. Finally, Reilly Financial Advisors LLC grew its position in Symantec by 223.5% during the fourth quarter.

In an analyst note revealed to investors and clients on Friday morning, research professionals at Piper Jaffray's equity division decreased the rating for Symantec (SYMC) shares from the previous "Overweight" to a "Neutral". While in the same Quarter Previous year, the Actual EPS was $0.28.

Symantec (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, May 10th. The company expects to close the 12 months ended March 30 with revenues of between $4.76 billion to $4.9 billion, below the $4.93 billion that analysts predicted.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Seekingalpha.com which released: "Symantec -13.2% on Q4 beats, downside guides, internal investigation" on May 10, 2018, also Seekingalpha.com with their article: "Symantec: A Risky Hold Through Earnings" published on May 06, 2018, Streetinsider.com published: "After-Hours Stock Movers 05/10: (KGJI) (TTD) (VRAY) Higher; (SYMC) (RDFN) (NVDA) Lower (more...)" on May 10, 2018. Currently, the stock has a 1 Year Price Target of $29.94. Symantec had 97 analyst reports since August 11, 2015 according to SRatingsIntel.

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Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Symantec Corporation (NASDAQ: SYMC) ("Symantec"). BidaskClub cut shares of Symantec from a "sell" rating to a "strong sell" rating in a report on Saturday, January 13th. At least 10 analysts lowered their price targets or ratings on the stock. The company has an average rating of "Hold" and a consensus price target of $30.57.

Symantec stock plunged 33% in early trading Friday on the news. Also, EVP Scott C. Taylor sold 41,284 shares of the firm's stock in a transaction on Monday, April 16th. About 56.47 million shares traded or 983.92% up from the average. When stocks are *very* In Play one can see a RVOL of 5 and above. The disclosure for this sale can be found here. 4,000 shares were sold by Vautrinot Suzanne M, worth $110,880.

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